Renewcast, an Italian AI-powered renewable vitality forecasting firm, has secured a €1 million SAFE (Easy Settlement for Future Fairness) funding from 2C Ventures Fund I, marking a strategic extension of its 2024 SAFE spherical.
This new funding will speed up Renewcast’s international business rollout and reinforce its place among the many world’s prime renewable forecasting expertise suppliers.
“This new funding is a vote of confidence in our long-term imaginative and prescient. Our group is rising, our business engine is ramping up, and our expertise has confirmed it might probably ship measurable worth,” mentioned Fabio Nicolò, CEO and Founding father of Renewcast. “We intention to be among the many prime 5–10 renewable forecasters globally inside the subsequent one to 2 years. With this funding, we’ll consolidate our tech group, scale our business efforts throughout Europe, the US, Latin America, and Asia, and put together the corporate for institutional development.”
Based in 2020, Renewcast develops high-precision forecasting options for renewable vitality utilizing a proprietary AI-driven stack. The corporate’s digital twin expertise fashions the chaotic conduct of climate and asset circumstances to allow intra-day, day-ahead, and multi-day forecasts that assist operational and buying and selling effectivity.
In keeping with the corporate, Renewcast has constantly outperformed legacy programs, delivering 20–40% improved accuracy and producing thousands and thousands in annual worth by diminished balancing prices.
Shoppers embrace utilities, grid operators, and renewable asset managers throughout Europe and the US.
“Inexpensive renewable vitality is the muse of transitioning to a sustainable financial mannequin and guaranteeing vitality independence. Nevertheless, the quickly rising volumes and accelerating electrification of the economic system make correct forecasting ever extra essential.
“We imagine that Renewcast has the components to change into a world chief in vitality intelligence – technical depth, early traction, and a transparent business roadmap,” mentioned Hendrik Reimand, Founding Associate at 2C Ventures.
With over 1.8 GW of put in renewable capability underneath energetic shoppers , Renewcast is quickly scaling its affect throughout key vitality markets. The corporate at present helps over 10 pilot programmes and has 4 business shoppers working throughout Europe and the US, with growth efforts concentrating on India and Asia.
Renewcast has already grown greater than 2.5x versus 2024 and is getting ready for a Collection A spherical focused for late 2026.
The SAFE spherical stays open for added traders as much as €1 million.
